Case 2
Store 24
Maastricht University, School of Business and Economics
Course: Management Control EBC 4154
Introduction
Most of the executives of Store24, a New England based convenience store, were gathered for an important meeting to discuss a way to increase store level employees retention. Some of the suggestions were to increase wages and bonuses, training enhancements or career development programs. However, top management lacked sufficient information available that would explained the relationship between manager and crew tenure on store level financial performance. Hence, the purpose of this paper is to shed light on the “employee tenure-store level performance” relationship as well as to discover how managerial skill,
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Based on the scatterplots on CTenure, Comp and Res, convenience stores 5, 8, 40, 42, 44 and 75 are dropped from the model as these stores seemed to be too much of an outlier. Moreover, Res is not used further as it is now constant for all other stores (i.e. Res = 1). As already mentioned in the case, it appears that after checking for the three regression assumptions (i.e. the zero mean, constant variance and normality assumption; independence is not an issue here as it is not time-series data), the relationship between employee tenure and store level performance is not linear. From Appendix B, the residual plots on MTenure as well as CTenure show a more parabolic than a linear relationship. Hence, as is suggested by Bowerman, O’Connell and Murphree (2009, p. 635) a quadratic regression model is used to solve for this non-linearity, by adding the two variables MTenure_Squared and CTenure_Squared. From the summary output in Appendix C it can be seen that CTenure and CTenure_Squared turn out to be insignificant, whereas Visibility is only marginally significant at the 10%-level. Therefore, it can be concluded that only manager tenure has a significant positive influence on store level performance. More specifically, the final model looks as follows:
Profit= 42360,739 + 1703,305 MTenure -4,57 MTenureSquared+ 3780,703 CTenure - 60,526 CTenureSquared + 3,997 Pop - 26561,276 Comp + 18091,05 Visibility + 36639,014 PedCount+ 58429,513
Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7.
In “Enclosed. Encyclopedic. Endured: The Mall of America,” David Guterson’s description concerning the Mall of America researches into numerous surfaces that are entrenched throughout the mall both physically and psychologically. David Guterson claims that the Mall is a psychological impact on the applicants inside. He makes this claim through his portrayals of the shopping mall’s: exterior and interior environment, the people he interviews, and the malls many titles.
Total profit show a positive increase from 18% in 2013 to 31% in 2015, far reaching the brothers’ preference of $1.1 M in 2015, Appendix 3 showed $1.4 M net profit
• Bottom of screen are two lines = projected revenues, net earnings, earnings per share, return on equity investment, credit rating, image rating and change in cash position from the prior year.
National Stores started in 1962 by Joseph Fallas in a single downtown Los Angeles store as Fallas Paredes. The current CEO of National Stores is Joseph, son, Michael Fallas, who began to work as a stocker boy at the age five. The National Stores Inc., is a family-owned company headquartered in the Harbor Gateway of Los Angeles, California, they have more than 350 locations in twenty-two locations in Puerto Rico. The National Stores Inc. does business as Fallas Paredes Discount Stores, Factory 2-U, Conway, CW Price and Anna 's Linen 's by Fallas. Not only does this company have a wide selection of home goods and décor, but it also offers brand name and private label clothing for men, ladies, boys, girls, juniors, infants and toddlers along with lingerie, shoes and household items.
The first Target store was opened in Roseville, Minnesota in 1962. The company began its’ path towards development in 1902 by George Draper Dayton. Dayton was a partner in Goodfellow’s Dry goods Company in Minneapolis, Minnesota. He quickly bought out his partners and became the founder of Dayton Dry Goods Company. In 1968, Dayton acquired the JL Hudson department store thereby changing his founding name to Dayton Hudson Corporation.
The challenges of an organization can influence the performance of an organization from a satisfaction with pay (Gomez-Mejia, Balkin, & Cardy, 2016, p. 296). The employee salary within an organization is a huge cause for turnover of employees (p. 296). First, the topic of employee salary is of great importance for the current and potential workforce (Lee & Lin, 2014, p. 1577). In addition, employees that have the perception on receiving lower compensation that others within their market will lack in performance and have a desire to leave the organization (p. 1577). In retrospect, the regular evaluation of compensation within the organization is vital to the reduction of employee turnover (p. 1577).
Abstract: This paper discusses common problems that managers often face when dealing with employees, as well as the the solutions that the manager(s) attempt to utilize to solve theese problems. This paper discusses the authors in depth Interview with the manager (Brandon Skwirsk) of a local footlocker store. This paper explores the managerial problems Brandon faces on a regular basis with his employees. This paper lists and explains in details the problems and ways Brandon handles problems related to employee recruitment, motivation, training, employee attitudes, feedback, incentives, and managing conflict between employees with employees, and
Chern’s also has a history of promoting from within, thus viewing employees as long term investments. With the autonomous nature of each store, the company must put a certain amount of stock in the acceptance of other ideas and best practices. Knowing this, and wanting to maintain the culture that has built their success thus far, the staffing strategy starts to come into a clearer objective and focus. The HR Strategy and challenge to acquire, develop, and retain an employee base that has long term career goal and is diverse based upon the demographics of each of the markets that the corporations has stores located. The Staffing Strategy to recruit and hire based upon the model of looking for employees that will be invested with the company on a long term basis and diverse based upon the various market demographics, will require at minimum some form of centralized HR administration to oversee the corporate objective, legal compliance, retention of top performers and mentoring at all levels within the organization. All of this to be done naturally while holding a high ethical standard and treatment of its employees on a fair and consistent basis.
Buckingham and Coffman’s First Break All the Rules (1999) chronicles the research conducted by the Gallop Company to determine what the best managers do and how this impacts employee retention. The
The purpose of this paper is to discuss Case #6 in the student text regarding The Grand General Store.
They also state that by having long tenured employees you increase the employee knowledge base, as longer tenured employees naturally know more about the company that shorter tenured employees (Tyler , 2007). I would purpose that CompTech consider promoting store managers from within. This would require changing the requirements to reflect someone that may not have a MBA or someone that does not have three years of prior supervisory experience. Another suggestion that may work well, I know it has for my organization, it to develop a Management Trainee Program. Some of the current weaknesses that CompTech currently possess is having such a high number of vacancies and they have pretty large amount of turnover. One of their major strengths is that they are willing to train their store managers with a product they have come up with “CompTech University” (Bernardin, J.H., 2013.
759 STORE established in year 2010, is the retail business of the CEC Group [1] that was set up with reference to the consumer culture of living areas in Japan. It mainly sells snacks, beverages, food and other packaged food and cosmetics which imported from Japan and other regions of the world. In the year, 759 STORE gradually introduced characteristic domestic goods including kitchen supplies and household goods mainly from Japan. Running with high inventory turnover rate, 759 STORE aimed to gJuly 30, 20157/30/2015ive desirable service to vast local Hong Kong residents, providing a relaxing shopping environment with wide range of products for 759 store’s customers to choose.
One of the functions that help channel Walmart towards its corporate goals is its retention program. Walmart as a company suffers from relatively high employee turnover especially from among hourly sales employee (Thompson). The retention program is geared towards retaining the employees that Walmart already has. This is done by recognising the efforts of excellent staffs, by awarding bonuses to deserving staffs based on business performance, although this strategy is used for managerial positions (Thompson). It also includes promotions and training development to support the company human resource needs
Performance management has been the one of the main issues for Wal-Mart associates and critics alike. The issue has come about the large and diverse pool of associates within Wal-Mart. There are a large of stores within the United States and they have a large amount of employees (an estimated 1.3 million in-store). The different types of qualifications for pay and benefits is in need of a makeover. Wal-Mart knows that it need to start a well detailed comprised list of options for its employees. Under the Career / Benefits section of its website, the company